EU steel market tries to resist imports from China and Russia

Currently, the EU steel market remains stable, but there is still a threat of imports from Russia and China, which offer steel products at competitive prices. In addition, new supplies from Turkey have appeared. The weak euro is helping to hold back potential importers, and Ilva has returned to the market with cold rolled and galvanized steel after a long hiatus. However, the fragile recovery of the EU economy does not give the necessary impetus to the steel market.

According to the MEPs, the heavy plate market is quite active now, but with an emphasis on the majority of purchases, mainly of Chinese origin. Slightly smaller quantities of slabs are being offered from Russia. Ukrainian factories are also trying to sell, but are less competitive. In addition, buyers are confident that the nature of the delivery will be maintained.

Local prices for cold rolled coils remain unchanged despite cheaper material being offered from Russia and China. The demand from car manufacturers has improved. However, the attractiveness of overseas quotations limits domestic prices for coated coils.

Wire rod makers have agreed to make a small discount, although sales will return to February levels. The prices for shaped products were kept as metallurgists focused on export markets. Suppliers continue to push for higher prices, but without any real success. Local production is partially focused on small-scale construction projects.

The increase in scrap costs led to an increase in rebar prices, to which the domestic market reacted calmly. Suppliers export some of their products to the United States as well as North Africa. In fact, the weaker euro has given advantages to European suppliers and allowed them to increase their market share. Although the sales figures for service centers have fallen, they remain acceptable.